My New Blog

Surprise, there isn't any.  Well, thats not quite true but I did sit with a commercial real estate lender yesterday and I asked how many deals he had done that were not refinances.  It has been 18 months since he had done one.

The good news I'll share is if you are a professional looking to purchase and occupy an office for your practice you have a chance.  That chance depends upon your credit history.

A good credit history would get you an 85% loan to value on your professional office, somewhere between 6% and 6.5% interest rate with a 20 year amortization period.  There would be a 5 year balloon (all the balance is due and you have to pay it or refinance). 

If you're looking at investment property it's a totally different story.  If it's available you're probably looking at 50% to 65% down and a rate based on your credit score and by the way, no speculation with a vacant property. 

Today, the other option, as it always has been, is a commercial real estate deal that is owner financed.  It's a sweet thing when a broker get an owner financed listing.  The terms will be more along what I will call "traditional" lines meaning 20% down, decent rate and amortization period.  If you want ideas on what a payment would be take a look at my mortgage calculator.  It at www.BusinessLocationsOnLine.com/mortgagecalculators .

If you have a medical or dental professional check out two of my owner financed properties: www.BusinessLocationsOnLine.com/dunnsale and for the dental practice www.BusinessLocationsOnLine.com/turtlecreek . 

Call me, I know where the deals are and how to finance them, Claude Gardner, CCIM 386 846 4135.